$308M crypto laundering scheme busted, Hashkey token, Hong Kong CBDC: Asia Specific

Hong Kong is one step nearer to a central financial institution digital forex (CBDC) with the discharge of its profitable e-HKD part 1 ends in collaboration with Visa (NYSE:), HSBC, and Financial institution.

Based on the November 1 announcement, Visa mentioned that it achieved “close to real-time” finality with transfers involving tokenized deposits of the digital Hong Kong greenback (e-HKD).

“Tokenized deposits have been burned on the sending financial institution’s ledger, minted on the receiving financial institution’s ledger, and concurrently settled interbank by way of the simulated wholesale CBDC layer,” the funds agency wrote.

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